Quick question... I am 45years old with 15 years of service as a service field technician in Maryland, do you think Verizon will ever attempt to freeze the pension during contract negotiations? After reading that some of the pensions range from 700-850k with 30 years of service, I’m hoping we’ll still be around for another 15 years and that the pension remains for everyone who is eligible for a pension.
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You are looking for 15 more years at a company that is looking to shred workers . That is gonna be tough , but might be doable . Thankfully I am outta here 2023
Cdu, this is eco, not laughable at all. I had almost 40 years in and have seen my share of strikes, I feel one of the big differences between then and now is that we used to be viewed as an asset, now, we are liabilities and the company has become adept at making the union feel lucky to keep what they have, it sort of takes the steam out of fighting for what they had. But, by no means am I saying that you shouldn’t fight for everything you deserve,
@ecp true. Any bargaining issue is always dealt with as a give and take. Ultimately the question is a said issue worthy of striking over. Some are more so than others. That is why their is a split system. The company knew no one would strike over the the benefits of the "yet if ever to be hired". Your proposed scenario of giving up additional pension accruals in future bargaining is very possible. However with a cohesive membership willing to fight they could just as possibly strike for the same pension treatment. While that might seem laughable to many after all the pension with 30 and out was fought for vigorously in the 70's. Nothing comes for free.
While it is true that pensions, and everything else in the contract is negotiated and the threat of a strike certainly plays a role, you are now dealing with a different mindset up top and, the fact that many union members don't even have a pension, you'd be hard pressed to get them to walk on behalf of others. The union never should have split the benefits of the rank and file. It minimizes your power. And, if the company offers a package right before 8/2023 and a lot of the older people go, that doesn't leave many soldiers. to do battle
if your going to be 60 when you get 30 years your lump sum will be a little more than half of someone hitting 30 years at 50 due to life expectancy.
It is a constant battle. They where successful in freezing band increases for one contract. I believe it was the 2013 one. The latest one we won a modest increase to the bands. In the end it has to be weighed as an issue that warrants striking or not. If they want to freeze it it may be necessary to strike for it. If enough members are willing to strike for it they will keep their pension. If a bunch of scabs undermine the battle the group will fold and go back to work with no future pension. It is wholly up to the workforce at the end of each contract.
You're good through August 5th 2023 when the current contract expires. After that date it is likely Verizon will negotiate to freeze the pensions.
The only thing keeping them from removing it is solidarity. If the membership folds so does future pension credits. The only reason we even have a pension is because of this. The union can guide and facilitate the process but in the end it is ultimately the membership's resolve that wins or loses the battle. Unfortunately the southern states or more apt to drink corporate koolaid and this weakens the plight of workers nationwide. I am not familiar with Maryland and the general attitude but in general these "right to work" states really are piss poor for the average person's working conditions.
They have attempted to remove it multiple times in the past, so my answer is yes.